Finally Fortune 500 companies are beginning to see how new technologies can help bring the power of experiential marketing to millions of people using social media tools. Many large companies have been slow to adopt the importance of social media and experiential marketing when compared to small and medium sized businesses.
Kate Spade New York is an example of a large company that adopted an experiential marketing strategy successfully to become one of the strongest brands in the online marketing space. In 2007, the future of the brand name was very uncertain, but with a new CEO and vision, the label expanded into new product categories and markets by growing their online presence.
“It’s critical for brands to always be leaders, to always take risks and experiment” ~ Craig Leavitt, CEO, Kate Spade.
Kate Spade’s stated steps for success include:
- An aggressive five year plan, the brand focused on building a global multichannel lifestyle brand, a brand that spanned multiple categories and reached the consumer in all channels of distribution.
- Redesign of the branded website, the biggest goal was to engage and interact with the community. Through the use of experiential marketing techniques, the community itself drove revenue for the business. Sales skyrocketed on the website with people staying on the site longer and interacting with the brand.
- Heavy investment in internet advertising using various social media channels.
- Developed a strong and consistent voice for that brand name in all relevant channels to reach their markets.
Once a company understands the importance of the consumers’ brand awareness of their brand name and leverages the platforms to attract influencers and followers, the brand grows because it understands what people are saying and feeling about their business. That data is crucial to business success and until recently was tricky to find.
Obscene Interactive is one company currently creating a revolutionary new tool that will allow business owners to leverage the wealth of consumer data and trending info that is being pumped into social media platforms by users every day.
The team at NEXT Marketing Agency is always on the lookout for marketing tools to measure, monitor and grow brand awareness and we will keep you posted. To get started in creating your own business brand name, you need to first figure out what you want people to SAY about your business. Join us at “BRAND CHATTER™ Live!” and get to work on the conversations about your brand to start building your own BRAND CHATTER™.